Wave Analysis:
The British pound is still straggling a few points above the lower trendline. While the price is held above this line, I expect nothing but a possible rebound from it to push the price to the upperside. As it is now, we are looking forward to a possible long term buy position towards 1.38160 and may extend much higher. On this chart, only buy positions looks ideal and can safely be recommended. Otherwise, if the price breaks below the same trendline, then we will be looking forward to a possible long term sell position with an ultimate target set around 1.30505.
Trade Recommendations:
As long as the price remains above the lower trendline, we are looking forward to a possible buy positions.
Origin: FreshForex
